Medtronic plc (NYSE:MDT) Position Lowered by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI lowered its holdings in Medtronic plc (NYSE:MDT) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,136 shares of the medical technology company’s stock after selling 1,737 shares during the period. Citizens Financial Group Inc. RI’s holdings in Medtronic were worth $1,129,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MDT. Ashton Thomas Securities LLC bought a new position in Medtronic in the third quarter worth about $123,000. WealthPlan Investment Management LLC lifted its holdings in Medtronic by 25.2% in the third quarter. WealthPlan Investment Management LLC now owns 3,460 shares of the medical technology company’s stock worth $312,000 after acquiring an additional 697 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Medtronic by 23.1% in the third quarter. Baillie Gifford & Co. now owns 532,302 shares of the medical technology company’s stock worth $47,923,000 after acquiring an additional 99,747 shares during the last quarter. Savvy Advisors Inc. bought a new position in Medtronic in the third quarter worth about $404,000. Finally, Aigen Investment Management LP bought a new position in Medtronic in the third quarter worth about $586,000. Institutional investors own 82.06% of the company’s stock.

Insiders Place Their Bets

In other Medtronic news, EVP Brett A. Wall sold 12,437 shares of Medtronic stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the transaction, the executive vice president now directly owns 40,979 shares in the company, valued at approximately $3,688,110. The trade was a 23.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

Medtronic Price Performance

NYSE MDT opened at $91.58 on Thursday. The stock has a market capitalization of $117.45 billion, a P/E ratio of 27.83, a P/E/G ratio of 2.22 and a beta of 0.80. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $96.25. The business’s fifty day moving average is $89.12 and its two-hundred day moving average is $87.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.39 and a current ratio of 1.90.

Medtronic (NYSE:MDT) last posted its quarterly earnings results on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a return on equity of 14.07% and a net margin of 12.83%. On average, research analysts forecast that Medtronic plc will post 5.46 earnings per share for the current fiscal year.

Medtronic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 28th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.80 annualized dividend and a dividend yield of 3.06%. Medtronic’s dividend payout ratio is currently 85.11%.

Analyst Ratings Changes

MDT has been the topic of several analyst reports. Barclays raised their price target on shares of Medtronic from $105.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. Robert W. Baird raised their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. UBS Group raised their price target on shares of Medtronic from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Sanford C. Bernstein raised their price target on shares of Medtronic from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $96.07.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.